Rock Creek, West Virginia Property Taxes
The median property tax rate in Rock Creek, WV is 0.72%, which matches the state median but is lower than the national median of 0.99%. With a median home value of $29,500 in Rock Creek, the typical annual property tax bill is $169, significantly below the national median of $2,690. Property taxes in Rock Creek are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Rock Creek's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Rock Creek or another part of Raleigh County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rock Creek, West Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$1,440
Ownwell’s Rock Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rock Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rock Creek to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Rock Creek, West Virginia
Property taxes in Rock Creek, West Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rock Creek is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Rock Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rock Creek estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Rock Creek's effective property tax rate to other areas in West Virginia and the national median. For comparison, the zip code 25174 has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these areas compare with Rock Creek provides valuable insights into the varying tax landscape across Raleigh County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rock Creek Tax Rate
0.72%
Average Raleigh County Tax Rate
0.72%
Average West Virginia Tax Rate
0.72%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rock Creek, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25174 | 0.20% | 0.72% | 0.72% | 0.72% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Rock Creek, West Virginia
In Rock Creek, West Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Raleigh County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Rock Creek, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price in Rock Creek is $29,500, with tax bills ranging from $75 at the 25th percentile to $626 at the 90th percentile. The zip code 25174 has the highest median tax bill at $169. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Rock Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rock Creek Assessed Value
$29,500
Average Raleigh County Assessed Value
$52,200
Average West Virginia Assessed Value
$80,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rock Creek, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25174 | $5,600 | $14,450 | $29,500 | $53,850 | $86,240 |
Source: Ownwell
Property Tax Bills Across Rock Creek, West Virginia
In Rock Creek, Raleigh County, WV, property tax bills are determined based on the assessed value of the property and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county assessor. For homeowners in Rock Creek, the median home price is $29,500. The property tax rate in this area is significantly lower than the national median property tax rate of 0.99%. Factors such as property location, size, and improvements can influence the assessed value. Homeowners in Rock Creek can expect their tax bills to vary widely. For instance, the tax bill at the 25th percentile is $75, while at the 75th percentile, it rises to $389. At the 90th percentile, the tax bill can be as high as $626. These variations impact homeowners differently, depending on their property's assessed value and any applicable exemptions. Understanding these factors can help homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Rock Creek Tax Bill
$169
Average Raleigh County Tax Bill
$419
Average West Virginia Tax Bill
$607
Average United States Tax Bill
$2,690
Property Tax Bills Across Rock Creek, West Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 25174 | $35 | $75 | $169 | $389 | $626 |
Source: Ownwell